Energy giant EDF has acquired electric vehicle chargepoint provider Pod Point in a deal reported by the I newspaper to be worth £110 million.
Founded in 2009, Pod Point has rolled out 62,000 charging points in the UK and 6,600 in Norway.
In 2018, it agreed a deal to install around 2,400 charging points at 600 Tesco supermarkets around the UK, while it has also been chosen as an exclusive or preferred chargepoint supplier to a number of vehicle manufacturers, including Groupe PSA and MG Motor UK.
The acquisition of Pod Point is EDF Group’s largest investment in the EV market and forms part of its plan to become the leading energy company for electric mobility in France, the UK, Italy and Belgium.
Erik Fairbairn, CEO and founder of Pod Point, said: “This is an incredibly exciting next chapter for Pod Point.
“We set out in 2009 with the vision that travel shouldn’t damage the earth and a mission to put a charge point everywhere you park. So far, we have made great progress towards those goals.
“By joining up with EDF we can take things to the next level and accelerate our national roll out of charging points and make it even easier for drivers across the UK to go electric.
“I’m immensely proud of what the Pod Point team has already achieved but think it is only a fraction of what we will now be able to do with EDF.”
EDF has acquired the majority stake in Pod Point, as part of a newly-formed joint venture with Legal and General Capital.
The announcement follows EDF Group’s acquisition of Pivot Power last year, which specialises in grid-scale batteries and provides high voltage power infrastructure required for rapid EV charge-points.